May 18, 2010 (TheNewswire.ca) --

Lori McClenahan, President of St. Elias Mines Ltd. (TSXV:SLI) ("St. Elias" or the "Company"), is pleased to announce that Stage 2 of the Titan 24 Geophysical Survey at the Tesoro Gold Project (the "Property") in Peru has commenced. The survey is being conducted by Quantec Geoscience Ltd. ("Quantec") and will extend the recent Stage 1 Titan 24 survey to cover the entire Property.

Stage 2 Titan 24 Geophysical Survey

The Stage 2 program has been designed to follow-up the results of the recent Titan 24 Geophysical Survey ("Stage 1") completed in fall 2009. Stage 2 will extend the geophysical survey to cover areas between the existing Titan 24 survey lines and will consist of 18 survey lines (totalling 43.2 line kilometres) of DCIP and MT data acquisition. Each Titan 24 line will be approximately 2.4 kilometres long with each survey line having the ability to read (acquire data) over a 100-metre wide zone. Line spacing with be at 250 metres. The estimated time for the field portion of the project will be 28 days. All field data will then be compiled, processed and interpreted by experienced professionals at Quantec's Interpretation Centre in Toronto, Ontario. Results will be released when available

Upon completion of the Stage 2 program the entire Tesoro Project will effectively be covered by Titan 24 survey.

Stage 1 Titan 24 Geophysical Survey

The Stage 1 Titan 24 Geophysical Survey consisted of nine survey lines (totalling 21.6 line kilometres) with one line along the structural corridor (the "axis") and eight lines perpendicular to the axis over each of the known gold zones of the Property.

The Stage 1 program:

· successfully identified twelve (12) high priority targets and eight (8) second priority targets for follow up at the Tesoro Project;

· identified an ovoid (egg shaped) anomaly beneath Zona Central that is 1,450m long x 400m wide and 300 - 500m thick and is open to the south; and

· identified targets of interest (on surface) that are outside of the mineralized "structural" corridor and that require field investigation.

A diamond drilling program comprising 10,000 meters is planned to test high-priority targets identified from the Stage 1 program and the ovoid anomaly. The Company is in the process of obtaining all necessary permitting for drilling.

The Company will also be conducting a surface exploration program (trenching) to examine other targets identified by the Stage 1 Titan 24 survey.

Titan 24 Geophysical Survey

Titan 24 is the leading deep earth imaging technology for delineating ore bodies to depth. While deep drilling can be expensive, Titan 24 focuses drilling and achieves success by clearly prioritizing targets.